Nov 30, 2012
DFW apartments 3Q 2012: Hendricks & Partners
DALLAS-FORT WORTH - The DFW apartment supply has increased by 3,920 units so far this year. With another 2,260 units expected in the final quarter 2012, full-year completions are anticipated...
DALLAS-FORT WORTH – The DFW apartment supply has increased by 3,920 units so far this year. With another 2,260 units expected in the final quarter 2012, full-year completions are anticipated to exceed the 5,290 apartments that came online in 2011.
In third quarter, multifamily permit issuance reached an annualized total of 13,650 units, 9 percent above the previous quarter.
Average vacancy increased 6.2 percent in the past three months with asking rents in the DFW area rising 1 percent to $826 per month in 3Q.
| Submarkets 5+ Units | Vacancy | Average Rent | ||
| 3Q 2012 | 3Q 2011 | 3Q 2012 | 3Q 2011 | |
| Uptown / Oak Lawn | 4.6% | 4.1% | $1,462 | $1,382 |
| North Dallas / Highlands | 6.8% | 9.2% | $720 | $708 |
| Irving | 5.1% | 5.6% | $844 | $803 |
| Far North Dallas / Carr / Addison | 5.1% | 6.1% | $851 | $825 |
| Plano / McKinney / Allen | 5.0% | 3.8% | $955 | $913 |
| Denton / Lewisville | 5.2% | 5.9% | $889 | $856 |
| Garland / Mesquite | 6.2% | 7.6% | $719 | $691 |
| East Dallas / Vickery | 7.4% | 8.1% | $820 | $797 |
| South Dallas / DeSoto / Lancaster | 8.5% | 9.1% | $774 | $744 |
| Arlington / Mid-Cities | 6.1% | 8.3% | $718 | $695 |
| South Fort Worth / Woodhaven | 10.6% | 12.2% | $624 | $605 |
| Southwest Fort Worth / Benbrook | 6.2% | 6.6% | $805 | $821 |
| North Fort Worth / Richland Hills | 5.9% | 6.1% | $837 | $812 |
| Totals | 6.2% | 7.2% | $826 | $806 |
View the full report at Hendricks & Partners.
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